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Thursday, July 18, 2024

Nigerian deposit money banks have ceased accepting new loan applications for the Central Bank of Nigeria’s (CBN) development finance intervention funds.

Access Bank notified customers of this change on Monday, following the CBN’s official announcement in December 2023 discontinuing the processing of new loan applications under existing development finance programs. These programs encompass NIRSAL, AADS, ABP, AGSMEIS, and RSSF.

Access Bank’s communication emphasized that approved interest rates for existing CBN funds will remain unchanged, with customers expected to adhere to agreed-upon terms and conditions for full repayment.

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